Arizona-domiciled Curator MD Risk Retention Group (Curator MD RRG) reported negative surplus of $12.5 million on its 2022 annual statement filed on May 15, 2023, leaving the RRG in an insolvent state at the end of last year.
Curator MD RRG has seen consistent declines in surplus since it began writing in 2019. Surplus at Curator RRG was $5.7 million in 2019 and subsequently fell to $4.9 million in 2020. Curator saw an additional decline to $1,011,140 in 2021, just above the statutory minimum set for Curator MD RRG by regulators in Arizona.
The RRG is authorized to conduct business in Arkansas, Arizona, Massachusetts, Florida, Pennsylvania, Utah, Louisiana, Ohio, and Texas. Curator MD RRG wrote $11.6 million in gross written premium in 2022, the majority of which was written in Florida ($7.8 million), though the RRG also has a strong presence in Massachusetts ($2.0 million) and Pennsylvania ($1.8 million).
Curator MD RRG provides hospital professional liability and physicians’ professional liability insurance to Steward Health Care (Steward) and its affiliates. Steward’s website states that it is the “largest private, physician-led health care network” in the nation and provides care to “millions of people across the U.S. and beyond.”
The Steward website also states that the company operates 39 community hospitals, over 25 urgent care centers, and 107 preferred skilled nursing facilities. In total, Steward states that it has 43,000 employees and over 7,900 beds under management.
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